管理层平台年化收益69% 23家投资者或面临亏损

Core Viewpoint - The acquisition of Sichuan Yichong Technology Co., Ltd. by Crystal Clear Mingyuan involves a transaction price of 3.282 billion yuan, with a significant premium of 260.08%, raising concerns about fairness and investor protection [3][6][8] Group 1: Transaction Details - The acquisition price of 3.282 billion yuan is significantly lower than the estimated valuation of 4.58 billion yuan at the end of 2023, indicating a serious valuation discrepancy [5][10] - The transaction employs innovative terms such as "differentiated pricing" and "business split betting," aimed at addressing the diverse needs of investors [3][7] - The valuation of Yichong Technology has increased from approximately 100 million yuan to nearly 4.58 billion yuan over seven years, reflecting high investor interest [5][6] Group 2: Pricing Strategy - The differentiated pricing strategy offers varying buyout prices for different investors, with the highest price reaching 20.95 yuan per registered capital and the lowest at 12.03 yuan, a difference of 74.14% [7][11] - Financial investors are guaranteed a cash price that is at least equal to their investment cost, but the actual returns vary significantly among investors [7][9] - The average estimated price per share is 15.04 yuan per registered capital, with some investors facing substantial losses [7][9] Group 3: Concerns and Questions - The Shanghai Stock Exchange has raised questions regarding the fairness and rationale behind the differentiated pricing, particularly in relation to investor returns [8][12] - There are concerns about potential conflicts of interest and whether the pricing strategy disproportionately favors larger institutional investors over smaller ones [13][14] - The management's rationale for higher pricing for certain platforms, despite already high returns, raises questions about possible preferential treatment [12][13]